First Internet Bank

A premier provider of online banking services nationwide, First Internet Bank of Indiana opened for business in 1999 as the first state-chartered, FDIC-insured institution to operate solely via the Internet. With customers in all 50 states, First Internet Bank offers consumers services including checking, savings, money market, health savings, certificates of deposit and IRA accounts as well as consumer loans, residential mortgages, residential construction loans and home equity products. For commercial clients, it provides commercial real estate loans, commercial and industrial loans and treasury management services. The bank is a wholly owned subsidiary of First Internet Bancorp (NASDAQ: INBK).
Company Growth (employees)
Fishers, US
Size (employees)
192 (est)
First Internet Bank was founded in 1999 and is headquartered in Fishers, US

Key People/Management at First Internet Bank

David Becker

David Becker

President and Chief Executive Officer
Nicole Lorch

Nicole Lorch

Executive Vice President and Chief Operating Officer
Kenneth Lovik

Kenneth Lovik

Executive Vice President and Chief Financial Officer
Timothy Dusing

Timothy Dusing

Senior Vice President, Public Finance
Stephen Farrell

Stephen Farrell

Senior Vice President, Chief Credit Officer and Credit Administrator
Michael Lewis

Michael Lewis

Senior Vice President, Commercial Real Estate Banking
Kevin Quinn

Kevin Quinn

Senior Vice President, Retail Lending
Anne Sharkey

Anne Sharkey

Senior Vice President, Operations
Connie Shepherd

Connie Shepherd

Senior Vice President, Commercial Banking

First Internet Bank Office Locations

First Internet Bank has offices in Fishers and Tempe
Fishers, US (HQ)
11201 USA Pkwy
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First Internet Bank Financials and Metrics

First Internet Bank Financials

First Internet Bank's revenue was reported to be $73 m in FY, 2016

Revenue (Q2, 2017)

22.7 m

Gross profit (Q2, 2017)

15.7 m

Gross profit margin (Q2, 2017), %


Net income (Q2, 2017)

4 m

EBIT (Q2, 2017)

11.7 m

Market capitalization (22-Dec-2017)

113.1 m

Cash (30-Jun-2017)

66.2 m
First Internet Bank's current market capitalization is $113.1 m.
USDFY, 2013FY, 2014FY, 2015FY, 2016


25.5 m38.4 m51.6 m73 m

Revenue growth, %


Cost of goods sold

10.7 m19.2 m

Gross profit

40.9 m53.8 m
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017


8.1 m8.5 m9.2 m9.9 m12.3 m12.6 m12.9 m15.2 m17.7 m20.4 m19.5 m22.7 m

Cost of goods sold

2.1 m2.2 m2.2 m2.3 m2.4 m2.6 m2.7 m3.6 m4.7 m5.1 m5.9 m7 m

Gross profit

6 m6.4 m7 m7.6 m9.9 m10 m10.2 m11.7 m13.1 m15.2 m13.6 m15.7 m

Gross profit Margin, %

USDFY, 2013FY, 2014FY, 2015FY, 2016


53.7 m28.3 m25.2 m39.5 m

Accounts Receivable

2.9 m2.8 m4.1 m13.6 m


1.3 b


7.1 m7.1 m8.5 m10 m
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017


26.3 m57.5 m20.6 m39.6 m39.6 m30.6 m20.6 m100.9 m70 m67.8 m53.1 m66.2 m

Accounts Receivable

807.2 m868.9 m1 b


1.1 b1.2 b1.4 b1.7 b


6.7 m6.8 m7.1 m7.1 m7 m8.1 m8.5 m8.5 m9.3 m10.1 m9.9 m9.7 m
USDFY, 2013FY, 2014FY, 2015FY, 2016

Net Income

4.6 m4.3 m8.9 m12.1 m

Depreciation and Amortization

2.3 m1.9 m1.9 m3.8 m

Accounts Receivable

(708 k)

Cash From Operating Activities

41.5 m2 m10.9 m26.5 m
USDQ3, 2013Q1, 2014Q2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

727 k600 k977 k1.3 m2.1 m2.3 m2.3 m2.4 m2.8 m3.1 m2.8 m

Accounts Receivable

2.7 m2.8 m3 m3.6 m3.6 m4.5 m5.5 m5.8 m6.9 m

Accounts Payable

96 k82 k104 k108 k112 k108 k138 k125 k148 k
USDY, 2017


118.3 k

Financial Leverage

14.5 x
Show all financial metrics

First Internet Bank Operating Metrics

First Internet Bank's Total Loans Issued was reported to be $1.7 b in Q2, 2017
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

Bank Branches


Total Loans Issued

$732.43 m$767.68 m$814.24 m$876.58 m$953.86 m$1.04 b$1.11 b$1.2 b$1.25 b$1.43 b$1.7 b

Non-accrual Loans

$235 k$246 k$188 k$196 k$167 k$172 k$5.63 m$1.13 m$1.08 m$3.41 m$3.09 m

Non-performing Loans

$296 k$246 k$188 k$206 k$167 k$367 k$5.64 m$1.13 m$1.08 m$3.41 m$3.44 m
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First Internet Bank Market Value History

First Internet Bank's Web-traffic and Trends

First Internet Bank Online and Social Media Presence

First Internet Bank Company Life and Culture

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